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Topic: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency - page 138. (Read 684864 times)

donator
Activity: 1064
Merit: 1000
I've got a pool setup if anyone wants to help test it, create an account @ http://46.166.138.142/
I started mining on your server but I started with a negative balance which leads me to think that you are doing something wrong with your calculations for rewards and that you might be taking some of the rewards for the miners Sad
I hope this is not the case and that it's simply a mistake but please look it over.
//DeaDTerra
donator
Activity: 1064
Merit: 1000
Whoever help me figure out how to get this running, I'll send them a free steam activation key for supreme commander and forged Alliance.

I installed the client and can created my ppcoin.conf file in my roaming/ppcoin folder. I'm pretty sure the ppcoin.conf file is setup wrong and that's why it can't connect or start mining. My 7950's are remaining idle.

Your ppcoin.conf file should look like this:

rpcuser = anyusernameyoulike
rpcpassword = anypasswordulike
server = 1
rpcallowip = 127.0.0.1


Then start your cgminer and add a pool:
URL: http://127.0.0.1:9902
username: same as set above for rpcuser
password: same as set above for rpcpassword


Punin I sent you a PM Smiley
I have done the above and the mining works fine, when do I know if I have found a block? Smiley
//DeaDTerra
sr. member
Activity: 317
Merit: 250
GET IN - Smart Ticket Protocol - Live in market!
Whoever help me figure out how to get this running, I'll send them a free steam activation key for supreme commander and forged Alliance.

I installed the client and can created my ppcoin.conf file in my roaming/ppcoin folder. I'm pretty sure the ppcoin.conf file is setup wrong and that's why it can't connect or start mining. My 7950's are remaining idle.

Your ppcoin.conf file should look like this:

rpcuser = anyusernameyoulike
rpcpassword = anypasswordulike
server = 1
rpcallowip = 127.0.0.1


Then start your cgminer and add a pool:
URL: http://127.0.0.1:9902
username: same as set above for rpcuser
password: same as set above for rpcpassword


Punin I sent you a PM Smiley
legendary
Activity: 1420
Merit: 1010
I've got a pool setup if anyone wants to help test it, create an account @ http://46.166.138.142/

Most excellent, have created an account and will try tonight to point and mine in ur pool .... I have a GUI Miner setup that i will test it on Smiley may even have to run home at lunch and see if it works!!

Ran home at lunch... all excited... had 2 mins to get it working.... failed to connect Sad will have to try again after work Sad.... Just for the record... if i have GUI miner setup mining BTC successfully... do i have to change any settings like what coin i am mining ?? never been able to get the guiminer mining LTC either.. but this could be because my pools do not like guiminer?? urgh sorry this digressing into other Guiminer issues i'm sure and all i probably did was put the wrong port number in.

will have a play and if sucessful will start a nice new thread explaining all to others for Mining PPcoins as there are a few people in similar situations.... http://46.166.138.142/workers.php

Best of luck with the pool and any idea how long it will take to potentially solve a block in the pool... hope i get on board before the first block is solved!! but best of luck to you all
legendary
Activity: 1442
Merit: 1000
just pointed one of my miners your way Grin
legendary
Activity: 1420
Merit: 1010
I've got a pool setup if anyone wants to help test it, create an account @ http://46.166.138.142/

Most excellent, have created an account and will try tonight to point and mine in ur pool .... I have a GUI Miner setup that i will test it on Smiley may even have to run home at lunch and see if it works!!
sr. member
Activity: 350
Merit: 250
Per aspera ad astra!
I tried to get the client running but it says something about RPCpassword and such Tongue
Anyone care to help me? Smiley
//DeaDTerra

you need to make ppcoin.conf Smiley

in ./ppcoin folder
I have made on in the roaming/PPcoin it's called ppcoin.conf
and it contains
rpcuser=bitcoinrpc
rpcpassword=
but it doesn't work
//DeaDTerra
You need to give it a password.
I gave it a password, still didn't work. Must the pass have certain characteristics.
//DeaDTerra

Most likely you have bitcoind already running so you have to set rpcport
legendary
Activity: 1022
Merit: 1033
Actually a large stash of coins is not even necessary to perform double-spends: you can get extra coin-days-destroyed for your block by paying people to send you their send-to-self transactions privately. As proof-of-stake based mining earns 1% per year, you can pay like 2% per year to make it profitable for them.

Once you have access to transactions which consume a lot of coin-days (relatively to normal spending activity) you can add them to your block and cause a large reorg.

So, basically, what is required is enough hash-power to mine block once in a while, say, once in a hour. And double-spend is pretty much guaranteed.
hero member
Activity: 560
Merit: 500
I've got a pool setup if anyone wants to help test it, create an account @ http://46.166.138.142/
legendary
Activity: 1022
Merit: 1033
The fundamental problem is that stakeholders can mount double-spending attacks effortlessly.

I'm not convinced of that. True, they didn't release much information on this, but to me it looks like you only have the chance to use your stake to mine a block once in a blue moon.

It doesn't matter that it's rare. You can get access to a steady flow of double-spend transactions via a kickback mechanism:

You, a wealthy hacker, would implement a "ppcoin-double-spend-edition" client. It works exactly like a regular client, except there is an additional "double spend lottery" button. When user clicks that button client creates a double-spend transaction for a recent user's transaction and it submits this transaction to you.

This double spend txn will spend 90% of input to user and 10% as a kickback to you.

Now I assume that this client will get popular since users have a chance to buy products for 10% of their cost.

If this client is popular, you get a constant stream of double-spend transactions with kickbacks to you.

You include these double-spend transactions into your proof-of-stake blocks, aiming to trigger a reorg. If you successfully mine it and reorg is successful, you earn kickbacks. If reorg doesn't work, you lose nothing since your coin-days are not consumed and you can try again.

Alternatively, you can use proof-of-work and send-to-self to increase coin-days consumed in your transaction. Quote from the ppcoin paper:

Quote
The protocol for determining which competing block chain wins as main chain has been
switched over to use consumed coin age. Here every transaction in a block contributes its
consumed coin age to the score of the block. The block chain with highest total consumed
coin age is chosen as main chain.

Apparently, it doesn't matter whether coin-days are consumed in proof-of-stake blocks as a stake or in proof-of-work blocks in transactions.

So you can mine proof-of-work blocks which include double-spend transactions and aim to do a reorg. You can easily check whether it's currently possible and how much of an opportunity do you lose in terms of interest and power spent on hashing. Thus you mine only when there is a chance of profit, and on average this operation will be profitable.

Even if you own just 1% of hashing power you have a chance of double-spend once in 100 blocks, which is significant.
hero member
Activity: 560
Merit: 500
Whoever help me figure out how to get this running, I'll send them a free steam activation key for supreme commander and forged Alliance.

I installed the client and can created my ppcoin.conf file in my roaming/ppcoin folder. I'm pretty sure the ppcoin.conf file is setup wrong and that's why it can't connect or start mining. My 7950's are remaining idle.

Your ppcoin.conf file should look like this:

rpcuser = anyusernameyoulike
rpcpassword = anypasswordulike
server = 1
rpcallowip = 127.0.0.1


Then start your cgminer and add a pool:
URL: http://127.0.0.1:9902
username: same as set above for rpcuser
password: same as set above for rpcpassword
sr. member
Activity: 317
Merit: 250
GET IN - Smart Ticket Protocol - Live in market!
Whoever help me figure out how to get this running, I'll send them a free steam activation key for supreme commander and forged Alliance.

I installed the client and can created my ppcoin.conf file in my roaming/ppcoin folder. I'm pretty sure the ppcoin.conf file is setup wrong and that's why it can't connect or start mining. My 7950's are remaining idle.
hero member
Activity: 840
Merit: 1000
I've mined a bunch of these.  My "stake" is still 0.0.  How do i get stake?  Can I use stake to get mining rewards or transaction fees?

I only have a very vague idea of what this field is really about. A quick glance at the code suggests that it shows the amount you've mined with proof of stake blocks that haven't matured yet. This is obviously still zero for everyone because proof of stake blocks require coins that have aged for at least 30 days.

I was unaware of that 30 day number.  It looks like it is advantageous to hoard coins without moving them between addresses.
hero member
Activity: 504
Merit: 500
FPGA Mining LLC
I've mined a bunch of these.  My "stake" is still 0.0.  How do i get stake?  Can I use stake to get mining rewards or transaction fees?

I only have a very vague idea of what this field is really about. A quick glance at the code suggests that it shows the amount you've mined with proof of stake blocks that haven't matured yet. This is obviously still zero for everyone because proof of stake blocks require coins that have aged for at least 30 days.
hero member
Activity: 504
Merit: 500
FPGA Mining LLC
something is wrong? i get 0 when i give "ppcoind gethashespersec"
but i use guiminer with phoenix and i see normal
hashrates in it from my 5970!
6 hours and no block yet!

Assuming your hashrate is about 700 MH/s, you should find a block every 3.8 hours on average at the current difficulty. So 6 hours is well within range.
ppcoind can't tell what your hashrate of external miners is, the gethashespersec RPC call refers to its integrated CPU miner IIUC.
hero member
Activity: 840
Merit: 1000
I've mined a bunch of these.  My "stake" is still 0.0.  How do i get stake?  Can I use stake to get mining rewards or transaction fees?
hero member
Activity: 607
Merit: 500
something is wrong? i get 0 when i give "ppcoind gethashespersec"
but i use guiminer with phoenix and i see normal
hashrates in it from my 5970!
6 hours and no block yet!
hero member
Activity: 504
Merit: 500
FPGA Mining LLC
Some random notes from a quick look at the source code: (I might have missed something though)
  • I can't find any code path that actually mines proof of stake blocks. The code seems to be implemented, but nothing seems to be calling it yet. Proof of stake blocks definitely aren't mined through getwork, but rather through (currently inactive, or maybe I'm just blind) CPU mining.
  • The difficulty for work and stake blocks seems to be (mostly?) the same, but it's divided by the number of accumulated coin days for stake blocks.
  • The block reward for a work block is sqrt(sqrt(9999^4 / difficulty)), rounded down to the next cent boundary.
  • The block reward for a stake block is the number of coin years put into it divided by 100.
  • The number of "bruteforce attempts" for stake blocks is limited to once per second (up to 2 hours into the past), per transaction used as stake input, per block found on the network.
  • Proof of stake blocks can include stake from multiple transactions, as long as it's on the same address (IIUC).
  • Minimum age for coins used in a stake block is 30 days.

Sunny might want to confirm if the above is correct...
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
I'm interested to find out more about this coin. Looking at the code, it seems like Sunny has indeed been working on this since November of last year. So it's unfortunate that he decided to do kind of a rush launch of the coin. The information about how a coin works should really be announced and analyzed by the community before the blockchain is started. Now miners have to decide whether they want to jump in without knowing what they are really supporting or wait until more information is released. Couple this with the fact that the block generation starts at 9999 and decreases as difficulty increases, this coin might turn out to have a larger effective premine than SolidCoin.

Got to love the fact it starts at "over 9000"

That is obviously wrong. The block reward started at 2500, the difficulty at 256. A block reward of 9999 corresponds to difficulty 1.

You're right. Block 1 started with difficulty of 256. Block 0 was at difficulty 1 and generated 9999 coins, but not sure if those are spendable.
hero member
Activity: 504
Merit: 500
FPGA Mining LLC
I'm interested to find out more about this coin. Looking at the code, it seems like Sunny has indeed been working on this since November of last year. So it's unfortunate that he decided to do kind of a rush launch of the coin. The information about how a coin works should really be announced and analyzed by the community before the blockchain is started. Now miners have to decide whether they want to jump in without knowing what they are really supporting or wait until more information is released. Couple this with the fact that the block generation starts at 9999 and decreases as difficulty increases, this coin might turn out to have a larger effective premine than SolidCoin.

Got to love the fact it starts at "over 9000"

That is obviously wrong. The block reward started at 2500, the difficulty at 256. A block reward of 9999 corresponds to difficulty 1.
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